The energy sector is as complex as the different forms of energy required to power our modern lives. According to the U.S. Energy Information Administration (EIA), “The May Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Economic activity has increased significantly after reaching multi-year lows in the second quarter of 2020. The increase in economic activity and easing of COVID-19-related restrictions have contributed to rising energy use.”
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At the moment, it seems Environmental, Social and Governance (ESG) investing is one of the most talked about subjects in the market. Asset Managers have to deal with investor questions, new regulations, national and international studies and reports, market research and an accompanying explosion in ESG data. Trying to stay on top of all of this can be a daunting prospect.
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Our SS&C Singularity team has now helped more than 50 companies migrate to new investment technology using a variety of deployment models, including co-sourcing, full outsourcing and SaaS. Along the way, we’ve made some discoveries and learned a few lessons about how to support clients as they seek to modernize their investment infrastructure, increase revenue and reduce operating costs.
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Firms have long leveraged their operational data to drive back-office performance. Whether it’s higher productivity and quality, better workforce planning and scheduling, or greater efficiencies and workflows, firms turn to their operational data to help improve their back-office processes.
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Each year, the National Committee for Quality Assurance (NCQA) takes measured steps to ensure that the Healthcare Effectiveness Data and Information Set (HEDIS) provides meaningful, patient-centric measures to ensure accountability at all levels. These measures are harmonized to share definitions across programs. The Electronic Clinical Data Systems (ECDS) framework, introduced with HEDIS 2016, was designed to increase the efficiency of quality reporting, while also providing an incentive to connect to primary clinical information systems.
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Gaining ground in the fast-growing RIA space is an important priority for many asset managers. However, engagement strategies and tactics that work with broker/dealer advisors are not always the most effective ways to capture RIAs’ attention—or their business. Independent RIAs, in particular, are often less inclined to interact with asset management salespeople than other advisors, and are more likely to invest in products without the involvement of a salesperson. Our 2021 advisor research indicates that, on average, independent RIAs have 27% of their book invested in products from asset managers whose salespeople they have never met. For the average advisor, this figure is 20%, while advisors who are employees of a broker/dealer have just 16% of their book invested in products from firms whose salespeople they have not met.
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Over the last few years, executives from virtually every asset management firm have mentioned a desire to modernize their distribution operations and compete more effectively in the ever-changing industry landscape. Leveraging data and technology has helped, but firms also need to make significant changes in strategy and culture—which are often the hardest types of change to create.
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Many of us have become used to having intelligent virtual agents (IVAs) in our daily lives. Think of your daily interactions with Alexa, Siri or Google Assistant. With their natural, human-like dialogue and ability to engage with us intelligently—asking and answering questions, offering recommendations, completing tasks on request. It’s easy to forget they’re not human. So it makes sense that companies would want to integrate IVAs into their contact centers.
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